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The Guardian - UK
The Guardian - UK
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Nicholas Shaxson

Why does Labour need to suck up to the City? Britain’s economy is already stifled by finance

Keir Starmer and Rachel Reeves visit the London stock exchange on 22 September 2023.
Keir Starmer and Rachel Reeves visit the London stock exchange on 22 September 2023. Photograph: Dan Kitwood/Getty Images

Before the 1992 general election, Labour leaders facing a tight race embarked on a self-abasing tour of the City of London, mocked as the prawn cocktail offensive. “Lunch after lunch, dinner after dinner, the assurances flow,” trolled Michael Heseltine. “All those prawn cocktails for nothing. Never have so many crustaceans died in vain.”

He was right: the Conservatives won a fourth consecutive victory.

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